Westchester’s blend of urban convenience and suburban comforts has spurred a surge of economic expansion, with our cities at the center. Residential developers have their sights set on Millennials and baby boomers who want city living at suburban price points. And consumers’ ongoing interest in experiential retail and on-trend dining options are revitalizing the demand for mixed-use space. Here’s a numerical look at how this trend is playing out in our urban centers.
New Rochelle
$4 billion The value of the city’s downtown master redevelopment plan, on which it partnered with RXR Realty in 2014
12 million The number of new-construction square feet the redevelopment plan calls for
6,370 The number of housing units under construction in the redevelopment plan
15 projects are currently underway by a handful of developers, thanks to the city’s fast-track growth plan, which guarantees developers project approval in 90 days.
White Plains
$779,032 HUD Community Development Block Grant Award for 2017-2018 is the basis of the city’s next Annual Action Plan to support development in its transit district and downtown core.
$94 million Metro-North station renovation unfolds over the next three years; nearly 10,000 commuters use the station each day.
288-unit luxury apartment tower Continuum, with monthly rent as high as $2,380 for a studio and $4,220 for a two-bedroom
$120 million The cost of The Collection, a mixed-use project that will bring 276 apartments and 25,000 square feet of retail and restaurant space across from The Westchester
Yonkers
$2 billion The amount that Yonkers has attracted in private investment dollars
6,000 The amount of new full- and part-time jobs since 2012
A record 175 movie productions filmed in 2017, earning the city nearly $650,000
The $190 million mixed-use Larkin Plaza features 440 apartments and 35,000 square feet of retail space
New SOYO Lofts include 22 studios renting at $1,300-$1,850 and 3 duplexes at $2,000-$2,950 per month.
Mount Vernon
$1,700 Estimated market rate for one-bedrooms in Enclave Equities’ five-building, Millennial-focused project
$5.7 million annually in new spending and 80 permanent jobs projected from new mixed-use development on W Broad Street
$300 million The cost of four housing developments announced in 2017, comprising a total of 900 units
